A Vacant Land (or empty lot) is a land that contains no buildings, improvements, or any other permanent structures. A Vacant Land may be available for development or may be set-aside by a government or a private owner to remain vacant. A property can be labeled as “vacant” by real estate agents even when it contains buildings, in the event that it is being sold for its lot value only, and in case it has been determined that any built structure on the lot will have to be knocked down and replaced, or if the structure in question is considered worthless and adds no value to the property.